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DeniseFavors01 · Joined: 09 Jul 2008 Posts: 2 1.86 Dollars($)

How long after you buy a prop. can you turn around a resale?

brian1 · Posted: Wed Jul 09, 2008 11:16 am Post subject:

the next day...once it is yours it is yours... Now if you financed it the broker needs you to wait 4 months or they will be charged for any funds they received doing your loan.

B

Niicss · Posted: Thu Jul 10, 2008 4:16 am Post subject:

Welcome DeniseFavors.

I have to agree with Brian. You can sell any time you want but you will have to pay off the mortgage company if there is any mortgage. By the way you may also need to pay a prepayment penalty as you are closing the loan early. How much do you owe to the mortgage company and how much is the current value of the property?

Posted: Thu Jul 10, 2008 8:25 am Post subject:

Are there any specific cases where the next day is not the answer?

jasonpolito · Posted: Thu Jul 10, 2008 8:26 am Post subject:

Is there any circumstance where the next day is not the answer here?

evolovik26 · Posted: Thu Jul 10, 2008 11:21 am Post subject:

well if you sell within 6-12 mon it may be considered property flipping and your buyer might have a tough time getting financing. This is true espessially if you selling for much higher then you bought it for and havent improved the property any. Twelve month is usually a good safepoint. Two years if you want to avoid paying capital gain taxes on your profit if its an owner occupied property and you not buying something else.

Guest

1st time buyer in florida. seeing lots of listings as resalein broward county. what is this?

savior70 · Posted: Wed Apr 08, 2009 6:29 am Post subject:

Hi

As far as I'm aware of, a resale property is a real estate property, especially a timeshare, that is sold in the market after being purchased by its current owner from the actual owner like a timeshare resort developer.

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